Wafra Investment Advisory Group Inc. NY bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,435 shares of the asset manager’s stock, valued at approximately $9,755,000.
Other large investors also recently added to or reduced their stakes in the company. Osborn Williams & Donohoe LLC boosted its position in shares of BlackRock by 1.2% in the first quarter. Osborn Williams & Donohoe LLC now owns 21,310 shares of the asset manager’s stock worth $8,173,000 after buying an additional 263 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in shares of BlackRock during the first quarter worth approximately $279,000. Trust Co boosted its position in shares of BlackRock by 7.8% in the fourth quarter. Trust Co now owns 4,237 shares of the asset manager’s stock worth $1,613,000 after buying an additional 307 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of BlackRock by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 113,736 shares of the asset manager’s stock worth $43,619,000 after buying an additional 2,805 shares in the last quarter. Finally, First Financial Bank N.A. Trust Division boosted its position in shares of BlackRock by 1.6% in the first quarter. First Financial Bank N.A. Trust Division now owns 17,157 shares of the asset manager’s stock worth $6,580,000 after buying an additional 271 shares in the last quarter. Institutional investors and hedge funds own 80.33% of the company’s stock.
Shares of BlackRock, Inc. (BLK) traded down 0.81% during mid-day trading on Friday, hitting $416.55. 1,015,041 shares of the company were exchanged. The company’s 50-day moving average price is $428.07 and its 200-day moving average price is $401.25. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.84. The firm has a market capitalization of $67.57 billion, a P/E ratio of 19.99 and a beta of 1.71.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be paid a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.40%. The ex-dividend date is Thursday, August 31st. BlackRock’s payout ratio is 47.98%.
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BLK has been the subject of a number of analyst reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $440.00 price target on shares of BlackRock in a research note on Friday, July 14th. Bank of America Corporation reiterated a “buy” rating and issued a $450.00 target price on shares of BlackRock in a research note on Monday, June 19th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price for the company in a research note on Tuesday, June 20th. Deutsche Bank AG lifted their target price on shares of BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $425.00 target price (up previously from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $443.00.
In other news, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Mccombe sold 500 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $405.98, for a total transaction of $202,990.00. The disclosure for this sale can be found here. Insiders have sold 3,772 shares of company stock valued at $1,567,516 in the last ninety days. Insiders own 1.86% of the company’s stock.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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